Brokerages Set Snap-on Incorporated (NYSE:SNA) Price Target at $346.40

Snap-on Incorporated (NYSE:SNA) has been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $355.33.

Several equities analysts recently issued reports on SNA shares. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research report on Monday, March 31st.

Insider Buying and Selling

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 in the last quarter. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Several institutional investors have recently bought and sold shares of SNA. Versant Capital Management Inc boosted its stake in Snap-on by 448.5% during the 1st quarter. Versant Capital Management Inc now owns 1,322 shares of the company’s stock valued at $446,000 after purchasing an additional 1,081 shares in the last quarter. Park National Corp OH grew its holdings in Snap-on by 10.3% during the first quarter. Park National Corp OH now owns 882 shares of the company’s stock worth $297,000 after acquiring an additional 82 shares during the period. Kera Capital Partners Inc. raised its position in Snap-on by 27.5% in the first quarter. Kera Capital Partners Inc. now owns 928 shares of the company’s stock worth $313,000 after acquiring an additional 200 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Snap-on by 5.5% in the 4th quarter. Wellington Management Group LLP now owns 17,220 shares of the company’s stock valued at $5,846,000 after acquiring an additional 901 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Snap-on by 1.1% in the 4th quarter. California State Teachers Retirement System now owns 90,668 shares of the company’s stock valued at $30,780,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of Snap-on stock opened at $314.98 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.90. The firm’s 50-day simple moving average is $338.24 and its 200-day simple moving average is $335.75. The firm has a market cap of $16.51 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the company earned $4.75 EPS. Equities analysts forecast that Snap-on will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.72%. Snap-on’s dividend payout ratio is currently 43.90%.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.